The cryptocurrency market continues to navigate volatility in the wake of major tariff announcements, with Bitcoin trading at $83,347.00 (down 0.60% over 24 hours) as of this morning.The overall crypto market is valued at $2.69 trillion with Bitcoin dominance at 62.02%.
Despite significant turbulence in traditional markets, Bitcoin has demonstrated resilience by maintaining support above the $80,000 level.Key Price Action (24h Change)Bitcoin (BTC): $83,347.00 (-0.60%)Ethereum (ETH): $1,806.53 (-0.49%)XRP: $2.13 (+0.04%)Solana (SOL): $120.35 (-1.98%)Litecoin (LTC): $83.80 (-0.73%)From Digital Gold to Global Hedge: Bitcoin Weathers Tariff Storm Better Than Tech.
(Photo Internet reproduction)Market DevelopmentsTariff-Induced VolatilityThe crypto and equities markets experienced significant volatility after President Trump announced new tariffs on April 2, described as his Liberation Day.Major stock indexes suffered their worst day since 2020, with the Dow losing almost 1,700 points.Chinas announcement of retaliatory 34% tariffs on all US imports starting April 10 further intensified market concerns.Bitcoin initially dropped from around $88,000 to approximately $82,100 following the tariff news.However, it has shown remarkable resilience compared to tech stocks, suggesting a potential new role as a geopolitical economic hedge.Bitcoin Technical AnalysisBitcoin faced multiple momentum shifts over the past 24 hours.
April 4th began with a death cross on the MACD at 00:45 UTC, but bullish momentum emerged at 5:00 UTC with a golden cross.The price hit resistance at $84,724.03 when the RSI entered overbought territory, followed by a correction that found support at $81,664.74.Standard Chartered analyst Kendrick noted Bitcoin approaching an important technical breakout:A break back above the critical $85k level looks likely today, post payrolls.
That opens up a move back to the $88.5k pre-tariff level from Wednesday.The critical resistance levels to watch are $85,000 and $88,500, with support at the March 11 low of $76,606.ETF FlowsBitcoin ETFs experienced mixed flows in recent days:April 3: Net inflow of 1,941 BTC ($159.76 million), with ARK21Shares contributing significantly (1,500 BTC, $123.45 million)April 4: Reversal with nearly $100 million in net outflows across all fundsBlackRocks iShares Bitcoin Trust (IBIT) was the only ETF to record inflows on April 4, adding about $65 millionGrayscales GBTC saw the largest outflow of around $60 millionIn contrast, Ethereum ETFs continued to face pressure with net outflows of 11,195 ETH ($19.93 million) on April 3, with iShares (Blackrock) accounting for 10,596 ETH ($18.86 million) of the outflow.Altcoin PerformanceEthereum (ETH)Ethereum has been trading between the $1,754 support and 20-day EMA ($1,928).
On April 4, ETH recovered from the Liberation Day shock, starting at $1,790 and climbing to $1,822 by midnight.The upcoming Pectra upgrade on May 7 is expected to boost the staking limit to 2,048 ETH, potentially affecting the assets value proposition.Solana (SOL)Solana has shown weakness, dropping 1.98% in the past 24 hours to $120.35.
The coin faces mounting headwinds in April as investors grow wary of looming FTX sell-offs, with repayments of $800 million scheduled to begin on May 30.This overhang appears to be limiting Solanas recovery compared to other major cryptocurrencies.Litecoin (LTC)Litecoin is currently trading at $83.80, down 0.73% over the past 24 hours.
Trading volumes remain relatively low at $436.6 million compared to other major cryptocurrencies.Trading VolumesBitcoin: $42.4 billion (24h)Ethereum: $16.1 billion (24h)XRP: $5.0 billion (24h)Solana: $4.8 billion (24h)Total crypto market: $106.66 billion (24h as of April 4)Expert OpinionsMarket sentiment remains divided on cryptos short-term direction:BitMEX co-founder Arthur Hayes expressed optimism, stating he loves tariffs as he expects them to be positive for Bitcoin and gold in the medium termVanEck analysis suggests global trade tensions are boosting Bitcoins role as an economic hedge, showing a decoupling from tech stocksByzantine General cautioned that crypto market upside would be limited due to possible tariff responsesCharles Edwards of Capriole Investments stated Bitcoin would turn bullish on a break and close above $91,000, or potentially fall to the $71,000 zone if that level fails to holdLooking AheadThe market will be closely watching Bitcoins reaction to the $85,000 level and further developments in the tariff situation.Ethereums upcoming Pectra upgrade and FTXs scheduled repayments in late May could introduce new volatility to specific altcoins.Overall, Bitcoins performance as a potential hedge against geopolitical tensions will be a key narrative in the coming weeks.